Explanation (a) If a patron places a bet of $1 in a game, then, the percentage of house wins is 50.7%, which means that the percentage of wins the patron has is 49.3%. For every dollar that is bet, the patron wins $ 1 × 49.3 100 = $ 0.493 but stands to lose $ 1 × 50.7 100 = $ 0.507 . Thus, for the $1bet the patron makes the gain or loss he makes is calculated as follows. ( $ 1 × 49.3 100 ) + ( − $ 1 × 50.7 100 ) = $ 0.493 − $ 0.507 = − $ 0.014 The patron loses $0.014 in 1 game where he bets $1. The house wins $0.507on every $1bet but loses $0.493 at the same time. The house edge is calculated as below: ( $ 1 × 50.7 100 ) + ( − $ 1 × 49.3 100 ) = $ 0.507 − $ 0.493 = $ 0.014 The house wins $0.014 on every $1 bet per game. (b) If the patron places a bet of $1 in 100 games he plays, then the gain or loss is given by, ( $ 1 × 100 × 49.3 100 ) + ( − $ 1 × 100 × 50...

6th Edition

ISBN: 8220100802713

Author: Briggs

Publisher: PEARSON

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Question

Chapter 7.C, Problem 29E

To determine

With the house win percentage of 50.7% on Blackjack,

(a) The loss or gain one makes with a $1 bet in one game of blackjack and the house edge.

(b) The loss or gain one makes with $1 bet in 100 games.

(c) The loss or gain one makes with a $5 bet in 100 games.

(d) The amount the house stands to make if the total bet in a day is $1,000,000.

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Chapter 7.C, Problem 28E

Chapter 7.C, Problem 30E

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Chapter 7 Solutions

EBK USING AND UNDERSTANDING MATHEMATICS

Ch. 7.A - Suppose you toss one coin three times in a row and...Ch. 7.A - During the course of the basketball season, Shawna...Ch. 7.A - A box contains 20 chocolates, but only 2 of them...Ch. 7.A - Prob. 4QQ Ch. 7.A - When you toss one coin, the probability that...Ch. 7.A - On a roll of two dice, Serena bets that the sum...Ch. 7.A - Suppose you toss four 6-sided dice. How many...Ch. 7.A - Suppose you toss four 6-sided dice. How many...Ch. 7.A - You are playing 5-card poker with a deck of 52...Ch. 7.A - Prob. 10QQ

Ch. 7.A - Distinguish between an outcome and an event in...Ch. 7.A - 2. What does it mean when we write P(event)? What...Ch. 7.A - Briefly describe the differences among...Ch. 7.A - How is the probability of an event not occurring...Ch. 7.A - Prob. 5E Ch. 7.A - Prob. 6E Ch. 7.A - When I toss four coins, there are four different...Ch. 7.A - The probability that my sister will get into the...Ch. 7.A - I estimate that the probability of my getting...Ch. 7.A - Because either there is life on Mars or there is...Ch. 7.A - The probability that Jonas will win the race is...Ch. 7.A - Based on data showing that we’ve had snow on...Ch. 7.A - Prob. 13E Ch. 7.A - 13-16: Review of the Multiplication Principle. Use...Ch. 7.A - Review of the Multiplication Principle. Use the...Ch. 7.A - Prob. 16E Ch. 7.A - Prob. 17E Ch. 7.A - Double-Header Outcomes and Events. Suppose the New...Ch. 7.A - Prob. 19E Ch. 7.A - Prob. 20E Ch. 7.A - Prob. 21E Ch. 7.A - Prob. 22E Ch. 7.A - Prob. 23E Ch. 7.A - Prob. 24E Ch. 7.A - 19-28: Theoretical Probabilities. Use the...Ch. 7.A - Theoretical Probabilities. Use the theoretical...Ch. 7.A - 19-28: Theoretical Probabilities. Use the...Ch. 7.A - 19-28: Theoretical Probabilities. Use the...Ch. 7.A - Prob. 29E Ch. 7.A - Prob. 30E Ch. 7.A - Prob. 31E Ch. 7.A - Prob. 32E Ch. 7.A - Which Type of Probability? State which method...Ch. 7.A - 33-34: Which Type of Probability? State which...Ch. 7.A - Prob. 35E Ch. 7.A - Prob. 36E Ch. 7.A - Event Not Occurring. Determine the probability of...Ch. 7.A - Prob. 38E Ch. 7.A - Probability Distributions. Make a probability...Ch. 7.A - 39-42: Probability Distributions. Make a...Ch. 7.A - 39-42: Probability Distributions. Make a...Ch. 7.A - 39-42: Probability Distributions. Make a...Ch. 7.A - Prob. 43E Ch. 7.A - Prob. 44E Ch. 7.A - Prob. 45E Ch. 7.A - Prob. 46E Ch. 7.A - Prob. 47E Ch. 7.A - Prob. 48E Ch. 7.A - Prob. 49E Ch. 7.A - Prob. 50E Ch. 7.A - Prob. 51E Ch. 7.A - Prob. 52E Ch. 7.A - Prob. 53E Ch. 7.A - Prob. 54E Ch. 7.A - Computing Probabilities. Decide which method...Ch. 7.A - Computing Probabilities. Decide which method...Ch. 7.A - Prob. 57E Ch. 7.A - Prob. 58E Ch. 7.A - Prob. 59E Ch. 7.A - Computing Probabilities. Decide which method...Ch. 7.A - Prob. 61E Ch. 7.A - Prob. 62E Ch. 7.A - Prob. 63E Ch. 7.A - Prob. 64E Ch. 7.A - Prob. 65E Ch. 7.A - Prob. 66E Ch. 7.A - Prob. 67E Ch. 7.A - Probability Distributions 68.Suppose you have a...Ch. 7.A - Prob. 69E Ch. 7.A - More Counting. Answer the following counting...Ch. 7.A - Prob. 71E Ch. 7.A - Prob. 72E Ch. 7.A - Prob. 73E Ch. 7.A - Prob. 74E Ch. 7.A - Senior Citizens. In 2010, there were 40 million...Ch. 7.A - Prob. 76E Ch. 7.A - Prob. 77E Ch. 7.A - Prob. 78E Ch. 7.A - Prob. 79E Ch. 7.A - Prob. 80E Ch. 7.A - Prob. 81E Ch. 7.A - Probability in the News. Find a news article or...Ch. 7.A - Prob. 83E Ch. 7.A - Gambling Odds. Find an advertising for a gambling...Ch. 7.B - The probability of rolling two dice and getting a...Ch. 7.B - The rule PAandB=PAPBholdsa. in all cases.b. only...Ch. 7.B - Prob. 3QQ Ch. 7.B - A box of candy contains five dark chocolates and...Ch. 7.B - Prob. 5QQ Ch. 7.B - You roll two dice. Based on the probabilities...Ch. 7.B - You roll two dice twice. Based on the...Ch. 7.B - You toss two coins ten times, and you want to know...Ch. 7.B - Prob. 9QQ Ch. 7.B - Prob. 10QQ Ch. 7.B - How did the gambling habits of the Chevalier de...Ch. 7.B - 2. Give an example in which we would be interested...Ch. 7.B - 3. Give an example in which we would be interested...Ch. 7.B - 4. What is the at least once rule? Explain how the...Ch. 7.B - The probability of getting heads and tails when...Ch. 7.B - If you toss a corn and get heads three times in a...Ch. 7.B - The probability of drawing ace or a spade from a...Ch. 7.B - I can’t believe you chose the lottery number...Ch. 7.B - Prob. 9E Ch. 7.B - To find the probability that at least one of my 25...Ch. 7.B - Chevalier’s Logic with Coins. The Chevalier’s...Ch. 7.B - Prob. 12E Ch. 7.B - Prob. 13E Ch. 7.B - Prob. 14E Ch. 7.B - Prob. 15E Ch. 7.B - Prob. 16E Ch. 7.B - Prob. 17E Ch. 7.B - Prob. 18E Ch. 7.B - Prob. 19E Ch. 7.B - Prob. 20E Ch. 7.B - Prob. 21E Ch. 7.B - Prob. 22E Ch. 7.B - Prob. 23E Ch. 7.B - 2 1-24: Either/Or Probabilities. Determine whether...Ch. 7.B - Prob. 25E Ch. 7.B - 26. Randomly meeting three international students...Ch. 7.B - Prob. 27E Ch. 7.B - Prob. 28E Ch. 7.B - Prob. 29E Ch. 7.B - Prob. 30E Ch. 7.B - At Least Once Problems. Use the at least once rule...Ch. 7.B - Prob. 32E Ch. 7.B - Prob. 33E Ch. 7.B - Prob. 34E Ch. 7.B - Prob. 35E Ch. 7.B - Prob. 36E Ch. 7.B - Prob. 37E Ch. 7.B - Prob. 38E Ch. 7.B - Prob. 39E Ch. 7.B - Prob. 40E Ch. 7.B - Prob. 41E Ch. 7.B - Prob. 42E Ch. 7.B - Prob. 43E Ch. 7.B - Prob. 44E Ch. 7.B - Prob. 45E Ch. 7.B - Prob. 46E Ch. 7.B - Assorted Probabilities. Use the method of your...Ch. 7.B - Assorted Probabilities. Use the method of your...Ch. 7.B - Prob. 49E Ch. 7.B - Prob. 50E Ch. 7.B - Prob. 51E Ch. 7.B - Prob. 52E Ch. 7.B - Assorted Probabilities. Use the method of your...Ch. 7.B - Prob. 54E Ch. 7.B - Assorted Probabilities. Use the method of your...Ch. 7.B - Assorted Probabilities. Use the method of your...Ch. 7.B - Probability and Court. The data in the following...Ch. 7.B - Testing a Drug. A new cold medication was tested...Ch. 7.B - Prob. 59E Ch. 7.B - Dominant and Recessive Genes. Many traits are...Ch. 7.B - Better Bet for the Chevalier. Suppose that the...Ch. 7.B - Prob. 62E Ch. 7.B - Miami Hurricanes. Studies of the Florida...Ch. 7.B - Prob. 64E Ch. 7.B - Prob. 65E Ch. 7.B - Prob. 66E Ch. 7.B - Prob. 67E Ch. 7.B - Combined Probability in Your Life. Cite a recent...Ch. 7.C - Suppose that the probability of a hurricane...Ch. 7.C - Consider a lottery with 100 million tickets in...Ch. 7.C - Consider the lottery described in Exercise 2. If...Ch. 7.C - Prob. 4QQ Ch. 7.C - An insurance company knows that the average cost...Ch. 7.C - You know a shortcut to work that uses side streets...Ch. 7.C - Cameron is betting on a game in which the...Ch. 7.C - Prob. 8QQ Ch. 7.C - A $1 slot at a casino is set so that it returns...Ch. 7.C - Consider the slot machine described in Exercise 9....Ch. 7.C - Explain the meaning of the law of large numbers....Ch. 7.C - In 10 tosses of a fair coin, should you be...Ch. 7.C - Prob. 3E Ch. 7.C - Prob. 4E Ch. 7.C - Prob. 5E Ch. 7.C - Prob. 6E Ch. 7.C - The expected value to me of each raffle ticket I...Ch. 7.C - The expected value of each insurance policy our...Ch. 7.C - If you toss a coin four times, it’s much more...Ch. 7.C - I haven’t won in my last 25 pulls on the slot...Ch. 7.C - I haven’t won in my last 25 pulls on the slot...Ch. 7.C - I’ve lost S750 so far today on roulette. I’m going...Ch. 7.C - Understanding the Law of Large Numbers. Suppose...Ch. 7.C - Speedy Driver. Suppose a person who has a habit of...Ch. 7.C - Prob. 15E Ch. 7.C - Expected Value Games. Find the expected value (to...Ch. 7.C - Prob. 17E Ch. 7.C - Expected Value Games. Find the expected value (to...Ch. 7.C - Prob. 19E Ch. 7.C - Prob. 20E Ch. 7.C - Prob. 21E Ch. 7.C - Expected Wait. A bus arrives at a bus stop at...Ch. 7.C - Gambler’s Fallacy and Coins. Suppose you play a...Ch. 7.C - Gambler’s Fallacy and Dice. Suppose you roll a die...Ch. 7.C - Can You Catch Up? Suppose you toss a fair coin 100...Ch. 7.C - Prob. 26E Ch. 7.C - Prob. 27E Ch. 7.C - Prob. 28E Ch. 7.C - Prob. 29E Ch. 7.C - Prob. 30E Ch. 7.C - Prob. 31E Ch. 7.C - Prob. 32E Ch. 7.C - Prob. 33E Ch. 7.C - Prob. 34E Ch. 7.C - Extra Points in Football. Football teams have the...Ch. 7.C - Roulette. When you bet $5 on the number 7 in...Ch. 7.C - Household Size. It is estimated that 57% of...Ch. 7.C - Prob. 38E Ch. 7.C - Prob. 39E Ch. 7.C - Prob. 40E Ch. 7.C - Prob. 41E Ch. 7.C - The Morality of Gambling. Republican Senator...Ch. 7.D - Prob. 1QQ Ch. 7.D - Prob. 2QQ Ch. 7.D - Prob. 3QQ Ch. 7.D - Prob. 4QQ Ch. 7.D - Prob. 5QQ Ch. 7.D - Based on Figure 7.11, besides the elderly, the...Ch. 7.D - Prob. 7QQ Ch. 7.D - Prob. 8QQ Ch. 7.D - Based on Figure 7.12, which statement is not...Ch. 7.D - Prob. 10QQ Ch. 7.D - Prob. 1E Ch. 7.D - Prob. 2E Ch. 7.D - Prob. 3E Ch. 7.D - Prob. 4E Ch. 7.D - Prob. 5E Ch. 7.D - Prob. 6E Ch. 7.D - Your life expectancy is the major factor in...Ch. 7.D - A 60-year-old has a shorter life expectancy than...Ch. 7.D - Prob. 9E Ch. 7.D - Prob. 10E Ch. 7.D - Prob. 11E Ch. 7.D - Prob. 12E Ch. 7.D - Prob. 13E Ch. 7.D - Prob. 14E Ch. 7.D - Prob. 15E Ch. 7.D - 15–20: Causes of Death. Use Table 7.4, and assume...Ch. 7.D - Prob. 17E Ch. 7.D - Prob. 18E Ch. 7.D - 15–20: Causes of Death. Use Table 7.4, and assume...Ch. 7.D - 15–20: Causes of Death. Use Table 7.4, and assume...Ch. 7.D - Prob. 21E Ch. 7.D - Prob. 22E Ch. 7.D - Prob. 23E Ch. 7.D - Prob. 24E Ch. 7.D - Prob. 25E Ch. 7.D - Prob. 26E Ch. 7.D - Prob. 27E Ch. 7.D - Prob. 28E Ch. 7.D - Prob. 29E Ch. 7.D - Prob. 30E Ch. 7.D - Prob. 31E Ch. 7.D - Prob. 32E Ch. 7.D - Prob. 33E Ch. 7.D - Aging population. The table shows the U S....Ch. 7.D - Prob. 35E Ch. 7.D - Prob. 36E Ch. 7.D - Prob. 37E Ch. 7.D - Prob. 38E Ch. 7.D - Prob. 39E Ch. 7.E - 1. You are asked to create a 4-character password,...Ch. 7.E - Prob. 2QQ Ch. 7.E - A teacher has 28 students. and 5 them will be...Ch. 7.E - Prob. 4QQ Ch. 7.E - A soccer coach who has 15 children on her team...Ch. 7.E - One term in the denominator of the combinations...Ch. 7.E - Overall, number of different 4-person terns (order...Ch. 7.E - One in a stadium filled with 100,000 people is...Ch. 7.E - One in a stadium filled With people is chosen at...Ch. 7.E - There are 365 possible birthdays in a year. In a...Ch. 7.E - Prob. 1E Ch. 7.E - Prob. 2E Ch. 7.E - Prob. 3E Ch. 7.E - 4. Explain What we mean When we that outcome is...Ch. 7.E - I used the permutations formula to determine how...Ch. 7.E - I used the combinations formula to determine how...Ch. 7.E - The number Of different possible batting orders...Ch. 7.E - It must my lucky day, the five-card poker hand I...Ch. 7.E - The probability that two people in a randomly...Ch. 7.E - Someone wins the lottery every week. so I figure...Ch. 7.E - Review of Factorials. use the skills covered in...Ch. 7.E - Review of Factorials. use the skills covered in...Ch. 7.E - Review of Factorials. use the skills covered in...Ch. 7.E - Prob. 14E Ch. 7.E - Prob. 15E Ch. 7.E - Prob. 16E Ch. 7.E - Prob. 17E Ch. 7.E - Prob. 18E Ch. 7.E - Review off Factorials. use the skills covered in...Ch. 7.E - 11—22: Review off Factorials. use the skills...Ch. 7.E - 11—22: Review off Factorials. use the skills...Ch. 7.E - 11—22: Review off Factorials. use the skills...Ch. 7.E - Prob. 23E Ch. 7.E - Counting Methods. Answer the following questions...Ch. 7.E - Prob. 25E Ch. 7.E - Prob. 26E Ch. 7.E - Prob. 27E Ch. 7.E - Prob. 28E Ch. 7.E - Prob. 29E Ch. 7.E - Prob. 30E Ch. 7.E - Prob. 31E Ch. 7.E - Prob. 32E Ch. 7.E - Counting Methods. Answer the following questions...Ch. 7.E - Prob. 34E Ch. 7.E - Prob. 35E Ch. 7.E - Prob. 36E Ch. 7.E - Prob. 37E Ch. 7.E - Prob. 38E Ch. 7.E - Prob. 39E Ch. 7.E - Prob. 40E Ch. 7.E - Birthday Coincidences. Suppose you are part of a...Ch. 7.E - Birthday Coincidences. Suppose you are part of a...Ch. 7.E - 43. Ice Cream Shop. Josh and Ice Cream Shop Of-...Ch. 7.E - 44. Telephone Numbers. A ten-digit phone number in...Ch. 7.E - 45. Pizza Hype. Luigi; Pizza parlor advertises 56...Ch. 7.E - ZIP Codes. The US. Postal Service five-digit and...Ch. 7.E - 47 —54: Counting and Probability. Find the...Ch. 7.E - Prob. 48E Ch. 7.E - Prob. 49E Ch. 7.E - Prob. 50E Ch. 7.E - Prob. 51E Ch. 7.E - Prob. 52E Ch. 7.E - Prob. 53E Ch. 7.E - Prob. 54E Ch. 7.E - Hot Streaks. Suppose that 2000 people are all...Ch. 7.E - Joe Record. One of longest-standing records in...Ch. 7.E - Prob. 57E Ch. 7.E - Prob. 58E Ch. 7.E - Prob. 59E Ch. 7.E - Prob. 60E Ch. 7.E - Prob. 61E Ch. 7.E - Prob. 62E Ch. 7.E - Prob. 63E Ch. 7.E - Prob. 64E

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